Ah yes “the cable bill” of 1996, that was going to lower cable costs. Like Obamacare, it did the exact opposite. The new fun name for leftwing intrusion into the communications industry is under “net neutrality”, and “fairness doctrine”.

NEt Neutrality really takes the cake for leftwing wing stupidity. Not a single person can explain what it will do, but the left loves it. Therefore it should be opposed because it obviously just means higher costs, more regulations, worse product. Everything they love is the same.

Ah yes “the cable bill” of 1996, that was going to lower cable costs. Like Obamacare, it did the exact opposite. The new fun name for leftwing intrusion into the communications industry is under “net neutrality”, and “fairness doctrine”.

NEt Neutrality really takes the cake for leftwing wing stupidity. Not a single person can explain what it will do, but the left loves it. Therefore it should be opposed because it obviously just means higher costs, more regulations, worse product. Everything they love is the same.

They's LOVE to make it all a one way street again, with them in charge, of course.

This is the week that Mary Berner gets to do what she was hired for two years ago.

Take Cumulus through bankruptcy.

Nothing in her background showed that she could turn a company around.

At Reader's Digest, she fired many employees, cut costs, successfully emerged from bankruptcy and then got fired by the board who then eventually had to go through bankruptcy a second time.

Berner no doubt wants to make this week's bankruptcy a quick deal but former CEO and major shareholder Lew Dickey has other plans.

Here's Berner's bankruptcy plan for Cumulus:

Enter bankruptcy no later than this Friday -- That's when the current Cumulus default of $23 million in missed debt payments automatically trips a bankruptcy event. At that moment, lenders can try to reclaim the company since it is their money that propped it up. But it's a process.

Maybe even trigger bankruptcy sooner -- Like tomorrow, Tuesday or any day before Friday. This gives Cumulus a little more control by taking the initiative before the debt default automatically trips bankruptcy December 1st.

Try to get a judge to rubberstamp her 80-page pre-pack -- Right now the only thing from keeping that pre-pack in her back pocket is that Lew Dickey who in essence controls the second largest group of stock will not allow it to be put to lenders to accept or reject. By corporate agreement, Lew Dickey has that right because he plans to regain Cumulus through one or more initiatives of his own.

The bankruptcy judge becomes Mary Berner's boss -- Once Cumulus either voluntarily trips bankruptcy or waits for Friday, the deadline when $23 million in missed debt payments become due, the fate of Cumulus is in the hands of a judge with the power to arbitrarily decide anything she or he thinks is in the best interest of the shareholders and lenders. That includes layoffs although during the Citadel bankruptcy, layoffs were not a big part of the judge's orders.

Talking points are being prepared by Cumulus right now -- How to spin the bankruptcy with all its uncertainty. Points like: Cumulus will emerge stronger. It's temporary. Everyone will get paid. Revenue was building before the bankruptcy (not true, by the way) and will continue to grow.

Cumulus is reportedly not paying Nielsen -- The ratings service is one of their big creditors. Another one is Merlin which owns the two Chicago FM stations that Cumulus missed a deadline to buy (another approximately $50 million). This makes Nielsen and Merlin among others with a horse in their bankruptcy race.

Q4 is reportedly disastrous -- Fourth quarter revenues for the radio division could be off between $6-8 million. Westwood One could be slightly up again but not enough to turn around a horrible quarter.

Mary Berner's bet is that lenders will back her pre-pack -- The one Lew Dickey is blocking from a vote. But it is uncertain whether lenders are pleased with Berner's operational results. If they vote for her plan, they also get her.

Berner padded the pre-pack with more compensation for herself -- She gets 50% of all applicable executive revenue. She gets a contract extension and the ability to flush the present board of directors with the power to appoint director's friendly to Mary Berner. This means John Dickey gets kicked out even though the Dickey family owns so much stock. Berner reportedly is seeking a revised golden parachute just in case she does not succeed.

An 'off-site' executive meeting is planned for Tuesday -- Usually these high-level meetings are held outside of New York City, but next week with bankruptcy coming fast, she will gather her top management together in the city and give them their directions.

David Field and Mary will hold a second round of Westwood talks -- Field either wants an expanded relationship to get at Westwood's NFL and NCAA sports rights for his sport-centric company. Or he could buy Westwood for bargain basement prices. Cumulus paid $260 million for it but it is likely not worth $100 million today. Or Field could pull a Mel Karmazin and run Westwood for Cumulus allowing Mary to layoff Westwood people, retain ownership and let Field run the syndicator -- something he needs to be a major competitor with iHeart.

Tuesday is the earliest Cumulus could file for bankruptcy.

Friday is certain unless they can come up with Merlin money and the missed debt payment from November 1st.

When you stop paying Nielsen, you know you're getting ready for the eventuality that Berner was totally hired for -- Chapter 11 bankruptcy.

She hopes to convince lenders and a judge that she is the best hope going forward.

You'll notice Lew Dickey has gone 'radio silent' as he continues to talk with lenders.

It turns out Dickey is Berner's worst nightmare.

He wants back. Feels he has been wronged and that Berner did not improve the company.

Dickey has the money in hand now to succeed through lenders (one of whom is also a lender in bankruptcy at Cumulus).

And if all else fails, expect a 'Farid'.

Dickey whacked Farid Suleman after he emerged from bankruptcy in a hostile takeover. Farid never saw it coming.

That's the best bet for how this six-month to one year soap opera will play out.

Quote

That Scandalous Rumor About Cumulus Board Chair Jeff Marcus

Bankruptcy gets tripped Friday -- just two days from now.

Yet the pro and anti-Dickey forces are thought to be behind the dirtiest form of mudslinging that the radio industry has seen.

Monday, Mary Berner issued her first anti-sexual harassment warning to the company's 3,600 employees seemingly out of nowhere raising suspicion that played into the hands of the pro-Dickey forces.

And today, unproven allegations that board chairman Jeff Marcus was allegedly involved in an abuse of power with a young female employee.

In the age of Harvey Weinstein and Charlie Rose, this is powerful stuff except for one thing.

It wasn't true.

The mud against Marcus -- That Marcus allegedly conducted conversations with WPLJ morning talent Jayde at their 2 Penn Plaza New York headquarters and studios. Marcus was alleged to have talked out of school about the upcoming bankruptcy that would require layoffs and offering this station level employee help so that she would be taken care of. No return favors were implied.

Jayde's agent immediately wrote to corporate in Atlanta -- Not about any unseemly behavior on the part of Marcus but because she was in the middle of contract negotiations with Cumulus and was concerned. I viewed a copy of the email her agent, Paul Anderson, wrote and the letter concerned itself with the restructuring Marcus alluded to as it pertains to Jayde's contract talks.

Cumulus alleges John Dickey wanted to bring Marcus down -- That John Dickey through a third party, personal PR rep is spreading rumors about board chairman Jeff Marcus in the hopes of ensnaring him in a Harvey Weinstein type controversy that today would mean immediate dismissal. Marcus is the force that ousted John's brother Lew who is said to be attempting a hostile takeover.

The New York Post took a pass -- They were also made aware of this alleged impropriety but so far chose not to run the juicy story which, if it had been true, would have set up one of the biggest ironies of all. The 'toxic culture' CEO (Berner) with a board chairman in her company using power to control a lower level female employee. And days before bankruptcy. With Lew Dickey lurking in the weeds. Except, that according to Jayde's lawyer's nothing untoward ever happened.

(AP) Sherman Oaks, CA - Premiere Networks today announced structured layoffs have affected even the popular radio show Coast to Coast AM. Effective immediately, several staff and on air personalities will no longer be with the company. Among the affected are the weekend hosts, and longtime producer Tom Danheiser. The program will no longer air live on weekends, and show host George Noory will screen his own calls during station breaks.

''We all knew Tommy a long time, and I think some people will miss him'' said Noory, who also confided that Danheiser did his laundry, ordered his groceries, bought him presents, and - on occasion - took him to the hospital. ''I'll have to get by with a bunch of interns now'', Noory joked.

Premiere's parent company, Cumulus Media Networks, has signaled it will be unable to meet a $23 million debt payment due this week, and will seek bankruptcy protection in a bid to reorganize the organization and to restructure it's debt.

''We all knew Tom a long time, and I think some people will miss him'' said Noory, who also confided that Danheiser did his laundry, ordered his groceries, and - on occasion - took him to the hospital. ''I'll have to get by with a bunch of interns now'', Noory joked.

(AP) Sherman Oaks, CA - Premiere Networks today announced structured layoffs have affected even the popular radio show Coast to Coast AM. Effective immediately, several staff and on air personalities will no longer be with the company. Among the affected are the weekend hosts, and longtime producer Tom Danheiser. The program will no longer air live on weekends, and show host George Noory will screen his own calls during station breaks.

''We all knew Tommy a long time, and I think some people will miss him'' said Noory, who also confided that Danheiser did his laundry, ordered his groceries, bought him presents, and - on occasion - took him to the hospital. ''I'll have to get by with a bunch of interns now'', Noory joked.

Premiere's parent company, Cumulus Media Networks, has signaled it will be unable to meet a $23 million debt payment due this week, and will seek bankruptcy protection in a bid to reorganize the organization and to restructure it's debt.

I already prayed to Satan for many, to take naps & never wake up again.

To do something or joke about something this reprehensible. Take it back. You could just as well pray to God to sift through many and put forward the best. Same meaning, and a lot less self-destructive.

(AP) Sherman Oaks, CA - Premiere Networks today announced structured layoffs have affected even the popular radio show Coast to Coast AM. Effective immediately, several staff and on air personalities will no longer be with the company. Among the affected are the weekend hosts, and longtime producer Tom Danheiser. The program will no longer air live on weekends, and show host George Noory will screen his own calls during station breaks.

''We all knew Tommy a long time, and I think some people will miss him'' said Noory, who also confided that Danheiser did his laundry, ordered his groceries, bought him presents, and - on occasion - took him to the hospital. ''I'll have to get by with a bunch of interns now'', Noory joked.

Premiere's parent company, Cumulus Media Networks, has signaled it will be unable to meet a $23 million debt payment due this week, and will seek bankruptcy protection in a bid to reorganize the organization and to restructure it's debt.

(AP) Sherman Oaks, CA - Premiere Networks today announced structured layoffs have affected even the popular radio show Coast to Coast AM. Effective immediately, several staff and on air personalities will no longer be with the company. Among the affected are the weekend hosts, and longtime producer Tom Danheiser. The program will no longer air live on weekends, and show host George Noory will screen his own calls during station breaks.

''We all knew Tommy a long time, and I think some people will miss him'' said Noory, who also confided that Danheiser did his laundry, ordered his groceries, bought him presents, and - on occasion - took him to the hospital. ''I'll have to get by with a bunch of interns now'', Noory joked.

Premiere's parent company, Cumulus Media Networks, has signaled it will be unable to meet a $23 million debt payment due this week, and will seek bankruptcy protection in a bid to reorganize the organization and to restructure it's debt.

I'm not as good as I once was.Love is a word that equals abuse.Commitment means only until you find someone you want to fuck more.Trust is a word that's used to describe the lies you don't want to admit.

(AP) Sherman Oaks, CA - Premiere Networks today announced structured layoffs have affected even the popular radio show Coast to Coast AM. Effective immediately, several staff and on air personalities will no longer be with the company. Among the affected are the weekend hosts, and longtime producer Tom Danheiser. The program will no longer air live on weekends, and show host George Noory will screen his own calls during station breaks.

''We all knew Tommy a long time, and I think some people will miss him'' said Noory, who also confided that Danheiser did his laundry, ordered his groceries, bought him presents, and - on occasion - took him to the hospital. ''I'll have to get by with a bunch of interns now'', Noory joked.

Premiere's parent company, Cumulus Media Networks, has signaled it will be unable to meet a $23 million debt payment due this week, and will seek bankruptcy protection in a bid to reorganize the organization and to restructure it's debt.

(AP) Sherman Oaks, CA - Premiere Networks today announced structured layoffs have affected even the popular radio show Coast to Coast AM. Effective immediately, several staff and on air personalities will no longer be with the company. Among the affected are the weekend hosts, and longtime producer Tom Danheiser. The program will no longer air live on weekends, and show host George Noory will screen his own calls during station breaks.

''We all knew Tommy a long time, and I think some people will miss him'' said Noory, who also confided that Danheiser did his laundry, ordered his groceries, bought him presents, and - on occasion - took him to the hospital. ''I'll have to get by with a bunch of interns now'', Noory joked.

Premiere's parent company, Cumulus Media Networks, has signaled it will be unable to meet a $23 million debt payment due this week, and will seek bankruptcy protection in a bid to reorganize the organization and to restructure it's debt.